Bookkeeping is the regular process of recording and organizing all the financial activities in a business. For many business owners, doing this every month is very important. It helps keep the financial records accurate and gives insights into the business's financial health.
Monthly bookkeeping means keeping track of all money coming in and going out of the business every month. This involves:
- Recording all income and expenses.
- Making sure bank account balances match financial records.
- Creating basic financial reports.
